Vericel Co. (NASDAQ:VCEL) Shares Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE increased its position in shares of Vericel Co. (NASDAQ:VCEL - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 182,273 shares of the biotechnology company's stock after acquiring an additional 7,664 shares during the quarter. Congress Wealth Management LLC DE owned approximately 0.37% of Vericel worth $10,009,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its position in shares of Vericel by 4.0% in the third quarter. Advisors Asset Management Inc. now owns 16,890 shares of the biotechnology company's stock valued at $714,000 after purchasing an additional 644 shares during the period. Intech Investment Management LLC purchased a new stake in Vericel in the 3rd quarter valued at about $563,000. Charles Schwab Investment Management Inc. grew its holdings in Vericel by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,206 shares of the biotechnology company's stock valued at $18,345,000 after buying an additional 5,504 shares during the period. Cerity Partners LLC increased its stake in shares of Vericel by 123.2% during the 3rd quarter. Cerity Partners LLC now owns 67,588 shares of the biotechnology company's stock valued at $2,856,000 after acquiring an additional 37,311 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Vericel during the 3rd quarter worth about $910,000.

Vericel Trading Down 3.4 %

NASDAQ:VCEL traded down $1.57 during mid-day trading on Friday, hitting $44.50. The company had a trading volume of 298,050 shares, compared to its average volume of 377,899. Vericel Co. has a 1 year low of $39.12 and a 1 year high of $63.00. The business has a fifty day simple moving average of $53.23 and a 200-day simple moving average of $51.73. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 741.79 and a beta of 1.78.

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Insider Activity at Vericel

In other Vericel news, Director Robert L. Md Zerbe sold 2,500 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $62.50, for a total value of $156,250.00. Following the transaction, the director now owns 26,595 shares in the company, valued at $1,662,187.50. The trade was a 8.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan Siegal sold 3,908 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $61.99, for a total value of $242,256.92. Following the sale, the insider now owns 1,206 shares of the company's stock, valued at $74,759.94. This represents a 76.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,092 shares of company stock worth $1,683,582. 5.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stephens reaffirmed an "overweight" rating and set a $65.00 price target on shares of Vericel in a research report on Wednesday, January 15th. HC Wainwright restated a "buy" rating and set a $60.00 price objective on shares of Vericel in a report on Friday, February 28th. StockNews.com upgraded Vericel from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Canaccord Genuity Group upped their price target on Vericel from $64.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Truist Financial restated a "buy" rating and issued a $61.00 price objective (down from $67.00) on shares of Vericel in a report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $62.29.

About Vericel

Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.